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Reverse Mortgage.

Helix said:
The abuse is that the reverse mortgage lenders are preying on desparate old people to put them in a situation in which they essentially forfeit their houses for much less than the property is worth. That's slimy, IMO.
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but they do NOT forfeit their houses
they live in them
more comfortably because they have received money for the equity in the home they are living in
there is no "abuse"
 
justabubba said:
but they do NOT forfeit their houses
they live in them
more comfortably because they have received money for the equity in the home they are living in
there is no "abuse"
Click to expand...

reverse mortgages exist to take advantage of desperate elderly people. it's the middle class version of payday loans.
 
Helix said:
reverse mortgages exist to take advantage of desperate elderly people. it's the middle class version of payday loans.
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more bull****
payday loans must be paid by those who receive the advance
not true for reverse mortgages
and the terms of the loans are not aberrant in comparison to conventional loans in stark contrast to the difference between a payday loan and a conventional one
next post, try to produce something fact based
 
justabubba said:
more bull****
payday loans must be paid by those who receive the advance
not true for reverse mortgages
and the terms of the loans are not aberrant in comparison to conventional loans in stark contrast to the difference between a payday loan and a conventional one
next post, try to produce something fact based
Click to expand...

https://nypost.com/2016/07/23/taking-out-a-reverse-mortgage-ruined-my-life/

harvesting from the desperate and old sucks. i'll admit that i feel bad that some of what my own industry does amounts to the same thing. just own it, move on, and change it if you can.
 
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